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In 2017/18 it led with £11.2 million of investment from its own members.

That was supplemented by a further £6.8 million of cash from co-investors including Scottish Investment Bank, the investment arm of Scottish Enterprise.

The largest single Archangels investment in 2017 was ￡3.6m in Scots cyber security business ZoneFox - a record in its own right for a single investment led by Archangels.

The group's appetite to also fund smaller scale early stage investments was shown by the ￡750,000 for joint and muscle pain online triage platform, PhysioMedics.

Earlier in 2018, Archangels also exited from its investment in one company, Oregon Timber, which it helped to establish in 1998.

The award was collected on behalf of Archangels by co-founder Mike Rutterford and David Ovens, the syndicate’s chief operating officer.

David Ovens said: “Business angel investment is a vital support network for the UK’s fledgling technology and life sciences innovators and we’re proud of the role we have played in helping to build fantastic businesses in Scotland.

"And while the investment is vitally important to these companies, we also provide access to our network of experts and hands-on support through the crucially important early years.

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“To be recognised by our peers in this way for Archangels’ investment activity during our 25th anniversary year is the icing on the cake.”

Archangels now comprises over 80 investor members and leads investment of around￡10m per year in early stage Scottish companies, including leverage from partners, the largest being the Scottish Investment Bank